The Ethereum-Tracking ETF returns to the green and draws new influxes as investors’ attention returns amidst steady performance of assets.
summary
- The Ethereum ETF recorded an inflow of approximately $360 million on September 16th, led by BlackRock’s ETHA.
- The US registered ETH fund currently lists five consecutive days of inflows, totaling $1.1 billion.
- Bitcoin ETF maintains nearly $2.6 billion inflows over a six-day streak.
- Ethereum prices are nearly $4,500, up 3.4% a week, up 8% from this month’s low.
Ethereum ETF recorded an influx of approximately $360 million on September 15th, according to SoSovalue data. This was the second strongest days since becoming positive earlier this month and expanding their recovery streak.
BlackRock’s ETHA accounted for the majority of the $363 million inflow, followed by $10 million Grayscale’s ETHE. In contrast, Fidelity saw a $13.5 million spill, offsetting some of the day’s total, while the remaining six issuers did not record activity.
With the latest activity, the US listed exchange trade fund is currently recording a five-day inflow streak and recovering from the negative performance seen at the beginning of the month. Over this period, the product attracted around $1.1 billion, but dragged its Bitcoin (BTC) counterpart.
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The Rebound reinforces institutional interest in the Ethereum ETF after a cooling period earlier this month and a cooling period this month, which coincided with weaker prices. At present, investors appear more confident in their long-term outlook for their assets, as ETH (ETH) itself shows signs of strength.
Ethereum ETF is strong as Price receives major support
According to data from crypto.news, ETH prices were around $4,509 at press, down just 0.02% over the past 24 hours. The second-largest asset grew 3.4% a week, up nearly 8% from a low of nearly $4,180 earlier this month.
On the chart, Ethereum is above its 50-day moving average, currently at around $4,275, serving as the main level of support. The daily RSI sits near 54 and refers to neutral momentum rather than being over-bought or sold.
Ethereum Price Chart as ETF Post-In-Froze | Source: crypto.news
The setup suggests that ETH is consolidated after a peak of nearly $5,000 in early September. Companies over $4,300 will retain their bullish structure intact, with the next test likely to be between $4,800 and $5,000. However, breakdowns below the 50-day average can open the door for further debilitation.
If current momentum applies, Ethereum ETFs could continue to attract strong influxes and improve performance in the last quarter of the year. Many rely on ETH, which holds support of over $4,500, and the broader risk appetite in the crypto market.
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